This script improves on many of the existing EMA ribbon scripts out there:
- Reduces visual clutter with shorter labels / titles, and thinner, transparent lines which don't obscure the actual price chart
- Two beautiful color gradients for up and down trends
- All colors and EMA periods are fully configurable, using the new input grouping / inline features
- Uses Pine Script v4, which makes it more future-proof and allows new functionality, e.g.
- It allow configurable period resolution, e.g. so user can fix at day resolution even when chart is being viewed at hour or minute resolution (this is the default)
- Code clean-up: remove redundant ternary conditionals, improve variable names
- Allow smoothing threshold for changes in trend direction to be configurable
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Better screenshot:
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Another attempt to fix screenshot.